What do you think are the biggest disadvantages of Bitcoin?
I think the biggest bitcoin loss is bitcoin is still not many who understand the existence of virtual currency and there are still many people who do not believe because the explanation of the management of bitcoin community in the world has not been able to explain well about bitcoin and various benefits that can be by using bitcoin
Topic: What do you think are the biggest disadvantages of Bitcoin? - page 33. (Read 76728 times)
September 22, 2017, 11:41:39 AM
September 22, 2017, 11:33:50 AM
The price of bitcoin is too unstable, because of this in many countries it is even banned or in many countries there is simply no opportunity to use it. People are not yet ready to adopt new technologies.
Yes. In short it was unpopular. Bitcoin is very volatile and popular. In my country I think 5 percent only kniw this. Because they are focused on a lot of other things. Another disadvantage of bitcoin is crime imposed by it. You can buy anything illegal without having to track how much money you have, or you use on buying those things.
September 22, 2017, 07:41:17 AM
The price of bitcoin is too unstable, because of this in many countries it is even banned or in many countries there is simply no opportunity to use it. People are not yet ready to adopt new technologies.
September 22, 2017, 07:33:58 AM
Once,higher transaction fee and very slow confirmations in case of low transaction fee was a big issue in bitcoin network.But,now after activation of segwit,that problem has almost been solved and transactions are confirmed at very high speed at lower rates.But,the volatilty issue of bitcoin price continues to exist.Since bitcoin being a decentralized currency,its prices are totally decided based on the increase or decrease in demand for new bitcoins.Since there is no central body,its price could not be controlled to be stable.It is due to this volatiliy issue that most of traders do not come forward to accept bitcoin payments and mot countries have not yet legalized bitcoin.But the truth is that volatilty issue could not be solved.
September 22, 2017, 06:50:43 AM
What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved 
Definitely there are many facts behind this cause. Probably the first and the biggest among these is the fact that bitcoin is extremely volatile, and as it is global, it is affected by almost any major news around the world, so its value keeps fluctuating, which makes investors unwilling to spend their money into bitcoin, thinking that their chances of losses will be higher than what it would be if they had invested in fiat, and it is true. That thus prevents bitcoin from mainstream adoption, which in turn also keeps the value of bitcoin from rising.
Another factor is the fact that even in this modern age, around 60-70% of the people (on avg.), aren't even aware about bitcoin.
Also, when some careless people get into bitcoin, and lose their money due to some scam they invested in or somehow they put a virus on their computer that caused their wallet to get hacked, and they go around spreading the rumor that bitcoin is just some HYIP/ponzi scheme. This in turn again hurts the value of bitcoin.
So it goes on like this in this cycle, and will continue that cycle until these defects in the society are rectified.
September 22, 2017, 06:47:26 AM
biggest losses bitcoin in my opinion that there is a certain limit of bitcoin so can not arbitrarily to produce bitcoin if there is a certain limit, so it is the biggest loss I think ...
The limit of bitcoin is not a disadvantage because it is an advantage because of the fixed supply and also not fixed and growing demand then the price of bitcoin will go up even higher than the price right now and it will continue to go up until its price is already high enough for the investors to say so it is not a disadvantage for overall. September 22, 2017, 06:32:00 AM
biggest losses bitcoin in my opinion that there is a certain limit of bitcoin so can not arbitrarily to produce bitcoin if there is a certain limit, so it is the biggest loss I think ...
September 22, 2017, 06:27:33 AM
that right , actually bitcoin is very good, I think only things like illegality and price stability are the only problems with bitcoin ..
September 22, 2017, 05:57:14 AM
the most important deficiency in bitcoin is of course only a matter of its validity and stabiality, Bitcoin is very good,
September 22, 2017, 05:43:03 AM
The biggest disadvantage of bitcoin is the inability to exist independently. Most people holding bitcoin hoping to get rich. This makes it difficult to establish trade bitcoins and organize offline bitcoin exchange. With this approach, governments will not be difficult to ban bitcoin. It is sufficient to prohibit the exchange of bitcoins for Fiat.
September 22, 2017, 05:31:01 AM
It is being inconsistent. For instance, one person can say "hey, Bitcoin is bullshit" and next morning you wake up to see price is shit.
Governments. You think the best offer is available in your country (China) for mining and you start building mining areas. Next month, news start spreading about new regulations and then your plan is all upside down.
Mining Pools. They try to force their power which result in forks and raise questions in minds of investors.
Governments. You think the best offer is available in your country (China) for mining and you start building mining areas. Next month, news start spreading about new regulations and then your plan is all upside down.
Mining Pools. They try to force their power which result in forks and raise questions in minds of investors.
September 22, 2017, 05:26:33 AM
The biggest disadvantages of bitcoin would be the ongoing development of its software. There are still tools, features and services that needs to be developed to make it more secure and accessible to masses. It’s still in the processing of maturing.
September 22, 2017, 01:19:02 AM
What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved
I think the disadvantages of bitcoin is that, it is not yet legal to some countries and by that, it also reduces the users that are supposed to be using bitcoins instead of the other cryptocoins. And maybe when the bitcoin will reach the certain number of countries that it are legal of course, its value will also increase. And also, we are now in the 21st century and yet bitcoin is still not approved as a payment in the local areas or stores.
September 21, 2017, 08:59:00 AM
If you see bitcoin condition now a days, it is unstable currency right now,
fluctuation in price would be one disadvantage.
Govt. can ban bitcoin like china did with bitcoin exchanges.
yes really the biggest problem in bitcoin is the fluctuating price so when the price is down it can be very sharp. that is the reason many bitcoin countries think to legalize bitcoin fluctuation in price would be one disadvantage.
Govt. can ban bitcoin like china did with bitcoin exchanges.
September 21, 2017, 08:42:49 AM
If you see bitcoin condition now a days, it is unstable currency right now,
fluctuation in price would be one disadvantage.
Govt. can ban bitcoin like china did with bitcoin exchanges.
fluctuation in price would be one disadvantage.
Govt. can ban bitcoin like china did with bitcoin exchanges.
September 21, 2017, 07:56:15 AM
What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved
i think the biggest disadvantage of bitcoin is the same as it advantage in other money. we know that the bitcoin is an online cryptocurrencis. and if we say "ONLINE" it talk about the internet or cybernet. then internet needs electricity to start access or to start on this. you got my point ? yeah. if the time comes when there's no electricity bitcoin will be usedless unless if they legalize the bitcoin and make it a country money. 
September 21, 2017, 07:31:25 AM
I think the biggest problem its not the bitcoin code, the biggest problem in this moment its the difficult to buy bitcoin from a safe exchange, the technical knowledge needed to set up a wallet, and the difficult to use a digital currency in the physical world.
Yes of course decentralized bitcoin is the biggest disadvantage .Apart from it many people still do not believe in bitcoin, because it is a virtual currency, I mean a crypto digital currency and has no physical structure. So peoplecannot see the volume of bitcoin. That’s why people do not believe in bitcoin. The other disadvantage is that bitcoin is in today’s era is just an imaginary coin.
September 18, 2017, 06:42:34 PM
There is no disadvantage of bitcoin means there is no backward point of bitcoin so we should not say that is there any disadvantage. Bitcoin is giving to people a huge opportunity so we should go for advantages instead disadvantages.
Bitcoin is not perfect, it is the best crypto but it still has some issues to solve, the most important is the issue with the fees, the fee is not high if you are sending thousands of dollars worth of bitcoin but if what you want send 10 dollars then the fees is very high and since most transactions are very low in terms of dollars then a solution was needed, segwit was activated for this reason but the fees have not go down. September 16, 2017, 05:26:32 AM
The largest down sides I really feel are the slow verification of transaction time and that is would be a whole lot handier if more companies took it for payments.
September 15, 2017, 11:48:46 PM
I think one of the future disadvantages will be the fact that BTC is limited to 21m. Well, in my opinion miners won't quit, and most likely an unlimited BTC will be created. However if that happens BTC will just get more and more value 
So it can be a disadvantage in the beginning (price would crash), but in the end it will be become an advantage for the BTC holders
So it can be a disadvantage in the beginning (price would crash), but in the end it will be become an advantage for the BTC holders
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